6557 Grand Ave
Gurnee, IL 60031
Grand Hunt Grand Hunt Center Outlot · Retail Property For Sale

CONFIDENTIALITY LINK MANDATORY – PLEASE SEE HYPERLINK FRESHLY INKED LEASES EVERY tenant in the shopping center has freshly executed or extended their leases over the last two years, of which 91% of the GLA signed new 10 year deals. Dollar Tree, the Investment’s anchor tenant proactively renewed their lease 14 months early, before their next option period for another 10 years, further exhibiting their long-term commitment to the Property. TARGET + MARIANO’S + HOME DEPOT OUTLOT The Investment is an outlot to Target, Mariano’s, Home Depot, TJ Maxx, Jewel-Osco and across the street from Walmart/Sam’s Club (NWC), Menards (SWC) and kitty corner (NEC) to the 1.9-million square foot Gurnee Mills Shopping Mall, the fourth largest mall in the Midwest. LONG-TERM COMMITMENT The Property is comprised of four national tenants with an average weighted tenure of 9.26 years and an average weighted remaining term of 9.43 years, while the most senior tenant, Helzberg’s occupancy dates back to 1996. SUPERB RETAIL SALES + FUNDAMENTALS The Property is situated in a ‘high barrier to entry’ location as Gurnee’s retail corridor is among Chicago’s top performing retail submarkets, with annual sales totaling $1.25 billion in 2017. The Property is also positioned at the epicenter of 4.12 million square feet of retail within a one-mile radius, with the current occupancy rate at an astounding 99.7% and a ?ve-year average of 97.3%, according to CoStar. EXCELLENT LOCATION + DEMOS The Property is located just off of Interstate, I-94 and is directly in-between Chicago and Milwaukee, a 40-minute drive either way. The average household income within a 3-mile radius is $123,000. The population within a 5-mile radius is in excess of 115,000. PROFESSIONAL + PROACTIVE OWNERSHIP The Property has been institutionally owned and managed for more than a decade with ownership investing in both a new roof with a 20+ year warranty and parking lot in 2014.